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The European Bank for Reconstruction and Development (EBRD) has slightly reduced its stake in Banca Transilvania (BT), the largest lender in Romania, according to a press release.
EBRD sold 13.7 million shares in an accelerated bookbuild placement at the Bucharest Stock Exchange (BVB). The shares sold on June 27, 2024 represent 1.7% of the total shares of Banca Transilvania. EBRD maintains a 5.2% stake in its long-term partner, informs EBRD.
In 2001, the institution acquired a 15% stake in the Romanian lender to consolidate its capital base and support the expansion of its activities and loan portfolio. Since then, the EBRD has fostered a long-term partnership with Banca Transilvania, recognizing it as a locally owned bank in Romania, innovative and rapidly expanding.
“With a solid and adaptable business model, Banca Transilvania has consistently demonstrated its ability to deal with difficulties quickly and transparently, supported by a determined management team,” says the press release.
By reducing its participation, the EBRD helps to increase the liquidity of Banca Transilvania’s shares on the Bucharest Stock Exchange. “Remaining a shareholder, the EBRD is confident in the future prospects of Banca Transilvania and will continue to support its future development”, states the financial institution.
BT is headquartered in Cluj-Napoca, is listed on the Bucharest Stock Exchange and is the largest bank in Romania. Currently, the EBRD is the second largest direct holder of the bank’s shares.
In 2023, the EBRD invested 658 million euros in Romania. Since the cooperation began, in 1993, the institution committed to investments of almost 11 billion euros in 525 projects in Romania, of which 81% in the private sector.
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